Beijing Plans to Loosen Control Over IPO System

Pledge to Adopt More Western-Style, Market-Oriented Mechanism

By

Shen Hong

Updated Nov. 17, 2013 11:35 a.m. ET

SHANGHAI—China's leaders vowed to revamp the country's IPO system, a move that would give companies more say in when they go public.

How initial public offerings in China are timed has long frustrated investors. Chinese regulators were often quick to give the green light for IPOs of state-controlled firms, while private-sector companies that were more attractive to investors were left waiting. Regulators' preference for state...